About your Search

20121202
20121210
Search Results 0 to 3 of about 4
is that it is a government agency that is not as nimble. long-term, if you have 3% down payment, it is one thing to trust that the lenders to use the program will operate according to the guidelines, but does the institution have the bandwidth to change circumstances? even if it were not as severe as 2006, say we go through a period where congress allows downpayment-funded assistance. how able is the fha to set those proper underwriting standards? >> there is no question that the fha any other agency needs to be more organized than what we have today. fhfa it is 80 years old. it has never required taxpayer money. the fact that we have a 1000- year flat and fha has plans for a 100-year flat, it is unfortunate, but it has worked out somewhat well. >> what we should be thinking about is, how do we take advantage of this opportunity to learn how to do the modernization that roberta talked about? we did learn about ko'd during this crisis, when fha wanted to change its standards and eliminate a program that was clearly costing it a significant portion, having an agency which does not have the authority to act
home is the american dream. government support excessive borrowing has turned into a national nightmare, close quote. and the focus of that editorial was, we still haven't fundamentally reformed that, including at f.h.a. so i hope we start getting on that track starting today. thank you, mr. chairman. >> senator menendez. >> thank you very much. i'll be brief. i look forward to hearing the secretary's response on how f.h.a. balances the goals of remaining self-sufficient without taxpayer funds, but also helping what is still a fragile housing market in ensuring first-time home buyers can get credit. there is a clear case to be made in my mind that but for f.h.a. in the midst of this housing crisis, we would have a far greater crisis on our hands. and so reconciling the fiduciary responsibilities here to the taxpayers as well as the mission to people of america is incredibly important. i look forward to hearing that. and with your indulgence, mr. chairman, when it comes to my time in questions, while i certainly care about f.h.a., i have a even more pressing issue in the state of new jer
of healthy economic growth that the government is willing to have the spending cuts we promise to do two years from now. we will be saying, we cannot afford to cut government spending because it will throw us into recession. >> that brings me to the next issue i would like to discuss. to get to the president's tax increase package that he is looking for, he is calling for higher marginal tax rates. in addition, a reduction in the value of deductions and other expenditures. higher taxes on capital gains, dividends. the way i count this up, if you include the limitations, the top marginal tax rates for some would be between 41 and 45%. that is just the federal level. we have states with varying income tax rates. some americans would be paying more than half of their income. it would exceed 50%. if the president got all the tax increases that he wants, is likely that could precipitate a recession? >> it is not only likely, it would certainly do so. it is cataclysmic. if we go from a 15% dividend tax, to 45%, that is ridiculously bad news for an equity markets. it is something we saw on the
debt. sovereign entity states and governments, countries, will have debt to finance the things they cannot pay for out tried. i used to work an invisible bond department of a wall street firm. there were all kinds of bonds, which is debt of cities and countries and states. of course there is the federal debt. as i recall, some people with fiduciary responsibility are only allowed to select investments that have very high ratings. the highest raiders in the world, at one time -- rated in the world, at one time, was the united states of america. and widows and orphans funds will invest in government bonds. host: alma, thank you for your call. we will consider your suggestion. the senate banking, housing and urban affairs committee is about to hold a hearing on the oversight of the fha program. shaun donovan will be testifying. we will be going to that as soon as that hearing begins. i want to show you this article in "the new york times took ." president obama plans to ask congress for about $50 billion for emergency funds to help rebuild the state's the were ravaged by hurricane
Search Results 0 to 3 of about 4